March 08, 2007

A Good Day

John Moore

Wednesday was a good day. We began again in the classroom, and I think we’ve gotten more comfortable with each other because discussion was more lively than the past two days. We began speaking about strategies for determining comparative advantage in a marketplace, and then spoke in greater depth about the greater opportunities brought on by the internet. The most interesting part of the morning was when we split up in pairs and spoke hypothetically about an internet marketing strategy for various products. Each group presented the positive benefits created by the internet which include more concentrated and continual contact with consumers, and possibilities for greater exposure and more sophisticated and organized ways to track customer spending patterns.

The last two afternoons we’ve visited some really cool sites. After lunch we took a drive up to Muncie to visit Joseph David Advertising and Scott Smalstig ’88. Scott was really cool. He was just ridiculously enthusiastic and excited to have us there. He gave us some history of his company and the work he’s done for them. We probably could have stayed there all night talking about what they’re working on currently. Right before we left we looked at a positioning plan and evaluation for one of their new clients, Nickent. Nickent is a growing golf club manufacturer, and the information Scott gave us outlined Nickent’s market share and questioned in detail what their prospects for the future are. That was nice because we were getting access to the way an actual advertising agency operates and Scott allowed us to speculate on the details and methods he used to formulate their strategy.

A Well-spent Break

Trent Hagerty

Today was a totally different than the past two days have been. The first thing was the fact we were in not in the same place for “class” as we usually were. The hotel actually booked another group to use the conference room at the hotel. We had to find a place to go and Lu actually contacted an alumnus who owns his own business basically right across the street from the hotel. We used the board room of a company called Adesa, which is owned by an alumnus. In “class” we talked about internet marketing and how it is changing the way businesses are marketing now a days. The past couple of classes we were discussing and learning about the conventional methods of marketing like TV, radio, magazines, and etc. We have also been discussing how the marketing strategies are developed and how they are put to use. With internet marketing this has all changed, for instance, instead of normal mass mailing that were done in the past now there are mass emailing. The reason that companies have switched from the mass mailing to email is because it cheaper and has the same effectiveness as mailings. Which was the basic point that I got from class is the fact that the internet has made the marketing world less costly for companies; however, the conventional methods are still predominately used because only 1/3 of households in America actually have access to the internet.

After class we traveled to Muncie where we visited an advertising company called “joseph david adverstising”, which is owned and ran by another Wabash alumnus named, Scott Smalstig. He told us about himself and his business and how he ended up where he is today. The first thing that I really noticed was the fact that at Wabash he was a English and Psychology double major, which really hit the point that Wabash education allows you to do anything besides just what you major in. The second thing I noticed was the difference between this company and the sports marketing company we visited yesterday. For both being in marketing I thought the two companies would be similar in a lot of aspects of the job, but surprisingly they are very different to the point where I wouldn’t call them at all related. The main difference is that joseph david advertises goods and not sports. Another difference is just how joseph david goes about marketing these goods, like golf clubs. We discussed a case where this firm was in charge of advertising a new golf club produced by Nickent and how joseph david went about developing a strategy and executing the strategy. This was a very interesting case to discuss. I am glad I spent my spring break studying marketing instead of going to Flordia or just wasting time at home. I have learned a lot and have actually developed an interest in marketing and have applied for an internship for the sports marketing agency we visited yesterday.

Muncie Bound

Tahir Ahmed

Since the hotel double booked the conference room that we’ve been using for the past few days, we spent the morning in the board room of Adesa Incorporated. The topic of discussion this morning was internet marketing and the different tactics companies can use on the internet to promote their products. We also talked about how companies differentiate their products from their competitors’. We did a case study on the Proctor & Gamble and discussed how their internet marketing strategy has helped the company promote its many brands. To better understand how to use the tools of the internet in marketing, we worked in groups of two to come up with an internet marketing strategy for randomly assigned products.

This afternoon we visited “joseph david advertising” in Muncie, IN. Scott Smalstig ’88, Vice Chairman of the company talked to us about how the company serves the needs of its clients. We were first quizzed on our knowledge of the “position statements” (slogans) of various marketing campaigns. He then told us about one of the company’s accounts, Nickent, and discussed what information an agent would need in order to be able to present the brand appropriately and develop an effective marketing strategy. Nickent is a relatively young company, which produces golf equipment. It specializes in producing hybrids and is known as the “King of Hybrids.” Apart from hybrids, this company also has developed irons with the longest range. Being a golf fan, I found all this very interesting. After the session, we were treated to wonderful dinner at Vera Mae’s Bistro in Muncie.

I have enjoyed the last few days, and have learned a lot not only about marketing, but also the importance of a Liberal Arts education. I am looking forward to what is in store for us for the rest of the week.